Expanding your business to another country may involve setting up a subsidiary. This process differs for every place, and it’s not always accessible to smaller companies with fewer resources. At Globalization Partners, you can skip the registration process while establishing a stable business abroad. With our Fiji subsidiary outsourcing services, you can focus on growing your company while we handle all compliance.
How to Set Up a Fiji Subsidiary
Before starting the subsidiary setup process, you must consider the kind of business you’d like to register. There are four options in the country:
- Sole trader: You operate your subsidiary as an individual, and you’re solely responsible for all associated debts and liabilities.
- Partnership: Two or more people share one business, including profits, losses, and liabilities, with a partnership.
- Private limited liability company (LLC): Members of this company are not held responsible for debts and liabilities. There must be a director of the private LLC who is a resident of the country, and there are limitations on shareholders’ abilities to transfer their shares.
- Public: This type of company can sell shares to the public.
You also have to think about your company’s logistical features, such as its name and location. Then, you need to find a building that meets your operation’s needs and prepare for any associated fees for setting up your subsidiary.
Once you’ve figured out the basics, you have to work through the complete registration process. The first step is registering your company name and entity with the Registrar of Companies Office. After completing this step, you must:
- Register with the Fiji Revenue and Customs Service (FRCS).
- Receive an inspection from the FRCS.
- Obtain a letter from the Minister of Employment, Productivity, and Industrial Relations.
- Apply for a business license.
- Register as an employer with the Fiji National Provident Fund.
While the subsidiary process is pretty straightforward, there are some laws you need to consider in the process. For one, you need to create Articles of Association for your business. These documents will describe your company’s governance and structure and must align with the regulations recorded in the Companies Act.
You’ll also need to establish a board of directors with defined decision-making power. Finally, you must obtain a National Fire Authority certificate to confirm your building is safe for conducting business and open a local bank account to legally handle finances.
What You Need
When you set up your subsidiary, you need time and money. With all the registrations and inspections your company has to go through, it could take weeks to process your company. There are also multiple fees and associated costs for handling and processing paperwork.
The Benefits of Establishing a Subsidiary
One of the most significant benefits of establishing a subsidiary is operating as a separate entity from your parent company. With guidance from your board of directors, you can create a business culture that fits the country’s professional landscape.
Globalization Partners helps you skip the lengthy process of establishing your company in-country, while providing all the benefits of having a subsidiary. When you work with us, we hire your employees through our subsidiary, so you can avoid the registration time. Our legal team will keep your processes compliant with Fiji’s subsidiary laws, and you give the risk to us. With the little details out of the way, you can focus on your business’s success.
Work With Globalization Partners for Subsidiary Outsourcing Services
Expanding internationally is an excellent step for business growth, but it can be challenging to get started. Globalization Partners can help you expedite the process by hiring your employees and assigning them to you. Bypass subsidiary registration, and contact us to learn more about our global PEO services.